Eve Air Mobility secures first public funding in $33.8M push for green eVTOL tech
Eve Air Mobility has been awarded up to $15.8 million in non-repayable funding from FINEP, Brazil’s national innovation agency.
The funding is the company’s first public grant and forms part of a broader investment valued at up to $33.8 million. This includes Eve’s own contribution, valued at approximately $17.87 million.
How did Eve secure the funding?
FINEP’s grant was issued through a national call for projects focused on “Technologies for More Sustainable Aviation.”
According to APNews, the project encompasses several key areas:
- Advanced Propulsion Systems: Developing efficient and sustainable propulsion technologies for eVTOL aircraft.
- Autonomous Flight Technologies: Researching and implementing autonomous flight capabilities to enhance safety and efficiency.
- Sustainable Fuel Testing: Exploring and testing sustainable fuel options to reduce environmental impact.
- Noise Reduction: Implementing technologies to minimise noise pollution, making urban air mobility more community-friendly.
- Digital Air Traffic Management Solutions: Creating digital platforms tailored to advanced air mobility operations, ensuring safe and efficient airspace integration.
Eve’s proposal was selected for aligning closely with the programme’s priority areas and represents the first public funding of the company. It’s a significant milestone for Eve, and underscores the importance of public-private partnerships in advancing sustainable urban air mobility solutions.
“This partnership with FINEP marks a pivotal milestone for Eve and the broader Brazilian aerospace ecosystem,” says Johann Bordais, CEO of Eve Air Mobility. “Our mission is to reimagine people’s relationship with time, space, and the city by creating safe, sustainable, and efficient air mobility experiences.”
How will Eve use the funding?
Eve plans to use the funding to accelerate the development of its digital infrastructure and aircraft technology.
Central to this effort is the expansion of Eve TechCare, the company’s all-in-one aftermarket services suite, to support eVTOL operators.
“Supporting the future operation of eVTOLs requires a robust digital backbone, this is the foundation for scalable AAM operations,” said Luiz Mauad, Vice President of Customer Services at Eve. “By developing our digital platforms and service solutions in parallel with our aircraft, we empower our customers with an integrated, one-stop-shop experience that ensures operational efficiency, safety, and high availability from day one.”
“Leveraging from Embraer’s 55-year legacy and our innovative mindset, this grant will enable us to accelerate the development of advanced digital solutions and technologies that will shape the future of urban air mobility in Brazil and beyond,” adds Bordais.
While the eVTOL market is seemingly swamped with players, Eve’s financial position remains robust. It maintains a substantial pre-order backlog of 2,800 aircraft, valued at approximately $14 billion.
Looking ahead, Eve continues to work towards the commercialisation of its eVTOL aircraft, with plans to enter service in 2027.
